According to multiple news reports, Canada and Mexico on Monday lifted retaliatory tariffs on US goods, including steel, aluminum, whiskey and beef, after the US lifted on Friday Section 232 tariffs on steel and aluminum imports from the two countries.
All three countries are currently working on ratifying the new USMCA trade deal. Canada and Mexico had both insisted previously that the tariffs be lifted before the trade deal was implemented.
Read More

In a joint statement today, the US and Canadian governments announced the US will lift Section 232 duties on steel and aluminum imports from Canada and Mexico, in anticipation of ratifying the new USMCA trade deal. Canada in turn will remove retaliatory tariffs on US exports to the country.
In addition, the US and Canada will drop all pending litigation in the World Trade Organization related to the tariffs, set up measures to prevent “unfairly... Read More

Positive mood prevails in global long steel products market despite virus of protectionism
The global long steel products market is currently in a positive mood amid good demand worldwide. Had there not been protectionist actions like additional tariffs, quotas or safeguard measures, the global business scenario would be much better. Protectionism is like a virus, expanding and hurting the international trade environment as we knew it.
Canada and... Read More

Global long steel market facing many unknowns amid protectionism and price corrections
There is huge uncertainty in the global long steel products market as there are a lot of unknowns against the backdrop of protectionist measures and price corrections.
US-China ceasefire may reduce volatility in international market
The trade dispute between the US and China has been kicked down the road for another 90 days. The ceasefire in the trade war between... Read More

Global long steel market still in equilibrium though regional differences observed
The global long steel products market still seems to be in equilibrium in terms of supply and demand. However, the steel trade is becoming more and more regional and so different supply and demand situations may be observed in various regions. Accordingly, although the overall market is generally stable, there are fluctuations seen in certain regions.
Sharp increase... Read More